Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.
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The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.
March 31
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A continuing macroeconomic recovery fueled by the federal government's stimulus payments to consumers has benefited GMF as well.
March 31
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The full Senate could deadlock on Rohit Chopra’s nomination as the Banking Committee did. If that happens, Vice President Kamala Harris is expected to cast the decisive vote in his favor.
March 30
- LIBOR
A white paper released Monday by the Alternative Reference Rates Committee outlined how issuers could (and perhaps should) model new floating-rate transactions using a compounded version of the interbank overnight rate instead of Libor.
March 30
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The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings.
March 30
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About 3.4 million renters believe themselves to be at risk of eviction, but when the moratorium ends, the actual number may be between 130,000 and 660,000, according to a Zillow report published Monday.
March 29 -
A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.
March 29
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The 2021 deal tally is split between $37 billion in new-issue transactions along with $68 billion in refis/resets, according to S&P Global Ratings.
March 29 -
The development bodes well for outcomes on distressed loans backed by major government-related mortgage investors Fannie Mae and Freddie Mac.
March 26
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The first-time securitization by the online commercial-finance will involve more than half of the San Francisco-based company's managed accounts portfolio.
March 26
- LIBOR
The heads of the Federal Reserve and Treasury are urging passage of legislation that would replace Libor with the Secured Overnight Financing Rate in certain contracts. That would spare banks litigation over trillions of dollars of contracts when Libor expires in 2023.
March 26
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Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25
March 25
